DLV RESOURCES ANNOUNCES SHARE CONSOLIDATION

TSXV: DLV.H 

VANCOUVER, BC, July 12, 2022 /CNW/ - DLV Resources Ltd. ("DLV" or the "Company") (TSXV: DLV.H) is pleased to announce that the Board of Directors of the Company has approved a consolidation of its issued and outstanding share capital on the basis of one (1) new common share for every five (5) outstanding common shares (the "Consolidation").

Subject to approval from the TSX Venture Exchange, the Consolidation will be effective at the opening of the market on or about Friday, July 15, 2022 (the "Effective Date").  The Company will not change its name as part of the Consolidation, but will issue new share certificates under a new CUSIP number 23342T204.  The Company's common shares will continue to trade on the TSX Venture Exchange under its current symbol "DLV.H".

The Company currently has 74,340,328 common shares issued and outstanding.  As at the Effective Date, the Company will have approximately 14,868,066 common shares issued and outstanding.  No fractional shares will be issued under the consolidation and any fraction will be rounded to the nearest whole number.

ON BEHALF OF DLV RESOURCES LTD.

"Geir Liland"

Geir Liland,
Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE DLV Resources Ltd.

Jasvir Kaloti, CFO & Corporate Secretary, Tel: [phone]